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Handbags Market in the UK - Forecast and Analysis 2022-2026

  • Published: Sep 2022
  • Pages: 122
  • SKU: IRTNTR74341
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The handbags market in the UK is projected to grow by USD 654.28 million with a CAGR of 4.48% during the forecast period 2021 to 2026.

This handbags market in the UK research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the handbags market in the UK segmentation by product (totebags, clutch, satchels, shoulder bags, and others) and distribution channel (offline and online). The handbags market in the UK report also offers information on several market vendors, including ALDO Group, Aspinal of London Ltd., Bottega Veneta SRL, Bugatti GmbH, Burberry Group Plc, Capri Holdings Ltd, CHANEL Ltd., Crew Clothing Co. Ltd., Dolce and Gabbana Srl, Fossil Group Inc., GOYARD SINGAPORE PTE. LTD., Guess Inc, Hermes International SA, Kering SA, LVMH Moet Hennessy Louis Vuitton SE, Prada Spa, Radley and Co Ltd., Tapestry Inc., The Cambridge Satchel Co. Ltd., and Mulberry Group Plc, among others.

What will the Handbags Market Size in the UK be During the Forecast Period?

Handbags Market in the UK Size

Download Report Sample to Unlock the Handbags Market Size in the UK for the Forecast Period and Other Important Statistics

 

Handbags Market in the UK: Key Drivers, Trends, and Challenges

The expansion of the retail and online distribution landscape is notably driving the handbags market in the UK growth, although factors such as threats associated with counterfeit products may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 impact on the handbags industry in the UK. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Handbags Market Driver in the UK

The expansion of the retail and online distribution landscape is one of the key drivers supporting the UK handbags market growth. The increasing use of the Internet has enabled global and regional handbag vendors to expand their distribution landscape and strengthen their customer base in the UK. In addition, factors such as the ease of purchasing, the availability of home delivery options, the convenience of choosing from a wide variety of handbags without visiting stores in person, and safe payment options attract buyers to purchase online. Hence, these factors are expected to boost the sales of handbags through online retail channels and, in turn, the market in focus during the forecast period.

Key Handbags Market Trend in the UK

Personalization, customization, and innovation of handbags are the key UK handbags market trends contributing to the market growth. Customized products have gained popularity in developed European countries, such as the UK, over the last five years. The UK is also experiencing growing demand for customized luxury goods, including luxury handbags. Furthermore, customization allows buyers to personalize their handbags, which makes them more expensive than standard products. Thus, a rise in the customization and personalization of handbags supports the growth of the market due to the high price of bags and through new purchases. This is expected to propel the value sales in the market during the forecast period. 

Key Handbags Market Challenge in the UK

Threats associated with counterfeit products are the factors hampering the UK handbags market growth. Advertising and promotion campaigns undertaken by global and local handbag vendors mainly help in retaining and attracting customers, ensuring customer loyalty toward brands, and preventing users from buying counterfeit handbags. However, such promotional activities come at a huge cost, which may further reduce the profit margins of authentic vendors. Moreover, low product reliability negatively impacts customer faith and may discourage the adoption of handbags to a certain extent among consumers across the UK. This, in turn, may limit the growth of the market to a certain extent during the forecast period.

This handbags market in the UK analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the handbags market in the UK as a part of the global apparel, accessories, and luxury goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the handbags market in the UK during the forecast period.

Who are the Major Handbags Market Vendors in the UK?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ALDO Group
  • Aspinal of London Ltd.
  • Bottega Veneta SRL
  • Bugatti GmbH
  • Burberry Group Plc
  • Capri Holdings Ltd
  • CHANEL Ltd.
  • Crew Clothing Co. Ltd.
  • Dolce and Gabbana Srl
  • Fossil Group Inc.
  • GOYARD SINGAPORE PTE. LTD.
  • Guess Inc
  • Hermes International SA
  • Kering SA
  • LVMH Moet Hennessy Louis Vuitton SE
  • Prada Spa
  • Radley and Co Ltd.
  • Tapestry Inc.
  • The Cambridge Satchel Co. Ltd.
  • Mulberry Group Plc

 

This statistical study of the UK handbags market encompasses successful business strategies deployed by the key vendors. The UK handbags market is fragmented, and the vendors are deploying growth strategies such as design, quality, and specifications to compete in the market.

Product Insights and News

  • prada.com - The company offers handbags such as Bayswater, Lily, and Alexa.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

Handbags Market in the UK Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the handbags market in the UK, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also the optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.

What are the Revenue-generating Product Segments in the Handbags Market in the UK?

Handbags Market in the UK Share

To gain further insights on the market contribution of various segments Request PDF Sample

The handbags market share growth in the UK by the tote bags segment will be significant during the forecast period. Fashion designers are coming up with the latest trending designs to develop a wide variety of tote bags. Moreover, the increasing demand for tote bags among the working population, the growing demand for tote travel bags at airport retail outlets, the rising preference for affordable luxury tote bags, the increasing availability of personalized and customized tote bags, and the growing demand for tote bags among Millennials are the major factors expected to fuel the demand for tote bags and drive the growth of the segment during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the handbags market size in the UK and actionable market insights on the post-COVID-19 impact on each segment.

 

Handbags Market Scope in the UK

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 4.48%

Market growth 2022-2026

$654.28 million

Market structure

Fragmented

YoY growth (%)

4.07

Competitive landscape

Leading companies, Competitive Strategies, Consumer engagement scope

Key companies profiled

ALDO Group, Aspinal of London Ltd., Bottega Veneta SRL, Bugatti GmbH, Burberry Group Plc, Capri Holdings Ltd, CHANEL Ltd., Crew Clothing Co. Ltd., Dolce and Gabbana Srl, Fossil Group Inc., GOYARD SINGAPORE PTE. LTD., Guess Inc, Hermes International SA, Kering SA, LVMH Moet Hennessy Louis Vuitton SE, Prada Spa, Radley and Co Ltd., Tapestry Inc., The Cambridge Satchel Co. Ltd., and Mulberry Group Plc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

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What are the Key Data Covered in this Handbags Market in the UK Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive handbags market growth in the UK during the next five years
  • Precise estimation of the handbags market size in the UK  and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the handbags industry in the UK 
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of handbags market vendors in the UK 

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
    • Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 07: Parent market
    • Exhibit 08: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 09: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 10: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 11: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 12: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 13: Chart on UK: Year-over-year growth 2021-2026 (%)
      • Exhibit 14: Data Table on UK: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 15: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 16: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 17: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 18: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 19: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 20: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 21: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 22: Chart on Product - Market share 2021-2026 (%)
      • Exhibit 23: Data Table on Product - Market share 2021-2026 (%)
    • 5.2 Comparison by Product
      • Exhibit 24: Chart on Comparison by Product
      • Exhibit 25: Data Table on Comparison by Product
    • 5.3 Tote bags - Market size and forecast 2021-2026
      • Exhibit 26: Chart on Tote bags - Market size and forecast 2021-2026 ($ million)
      • Exhibit 27: Data Table on Tote bags - Market size and forecast 2021-2026 ($ million)
      • Exhibit 28: Chart on Tote bags - Year-over-year growth 2021-2026 (%)
      • Exhibit 29: Data Table on Tote bags - Year-over-year growth 2021-2026 (%)
    • 5.4 Clutch - Market size and forecast 2021-2026
      • Exhibit 30: Chart on Clutch - Market size and forecast 2021-2026 ($ million)
      • Exhibit 31: Data Table on Clutch - Market size and forecast 2021-2026 ($ million)
      • Exhibit 32: Chart on Clutch - Year-over-year growth 2021-2026 (%)
      • Exhibit 33: Data Table on Clutch - Year-over-year growth 2021-2026 (%)
    • 5.5 Satchels - Market size and forecast 2021-2026
      • Exhibit 34: Chart on Satchels - Market size and forecast 2021-2026 ($ million)
      • Exhibit 35: Data Table on Satchels - Market size and forecast 2021-2026 ($ million)
      • Exhibit 36: Chart on Satchels - Year-over-year growth 2021-2026 (%)
      • Exhibit 37: Data Table on Satchels - Year-over-year growth 2021-2026 (%)
    • 5.6 Shoulder bags - Market size and forecast 2021-2026
      • Exhibit 38: Chart on Shoulder bags - Market size and forecast 2021-2026 ($ million)
      • Exhibit 39: Data Table on Shoulder bags - Market size and forecast 2021-2026 ($ million)
      • Exhibit 40: Chart on Shoulder bags - Year-over-year growth 2021-2026 (%)
      • Exhibit 41: Data Table on Shoulder bags - Year-over-year growth 2021-2026 (%)
    • 5.7 Others - Market size and forecast 2021-2026
      • Exhibit 42: Chart on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 5.8 Market opportunity by Product
      • Exhibit 46: Market opportunity by Product ($ million)

    6 Market Segmentation by Distribution Channel

    • 6.1 Market segments
      • Exhibit 47: Chart on Distribution Channel - Market share 2021-2026 (%)
      • Exhibit 48: Data Table on Distribution Channel - Market share 2021-2026 (%)
    • 6.2 Comparison by Distribution Channel
      • Exhibit 49: Chart on Comparison by Distribution Channel
      • Exhibit 50: Data Table on Comparison by Distribution Channel
    • 6.3 Offline - Market size and forecast 2021-2026
      • Exhibit 51: Chart on Offline - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Data Table on Offline - Market size and forecast 2021-2026 ($ million)
      • Exhibit 53: Chart on Offline - Year-over-year growth 2021-2026 (%)
      • Exhibit 54: Data Table on Offline - Year-over-year growth 2021-2026 (%)
    • 6.4 Online - Market size and forecast 2021-2026
      • Exhibit 55: Chart on Online - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Data Table on Online - Market size and forecast 2021-2026 ($ million)
      • Exhibit 57: Chart on Online - Year-over-year growth 2021-2026 (%)
      • Exhibit 58: Data Table on Online - Year-over-year growth 2021-2026 (%)
    • 6.5 Market opportunity by Distribution Channel
      • Exhibit 59: Market opportunity by Distribution Channel ($ million)

    7 Customer Landscape

    • 7.1 Customer landscape overview
      • Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 61: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 62: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 63: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 64: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 65: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 66: Matrix on vendor position and classification
            • 10.3 Burberry Group Plc
              • Exhibit 67: Burberry Group Plc - Overview
              • Exhibit 68: Burberry Group Plc - Business segments
              • Exhibit 69: Burberry Group Plc - Key offerings
              • Exhibit 70: Burberry Group Plc - Segment focus
            • 10.4 Capri Holdings Ltd
              • Exhibit 71: Capri Holdings Ltd - Overview
              • Exhibit 72: Capri Holdings Ltd - Business segments
              • Exhibit 73: Capri Holdings Ltd - Key news
              • Exhibit 74: Capri Holdings Ltd - Key offerings
              • Exhibit 75: Capri Holdings Ltd - Segment focus
            • 10.5 CHANEL Ltd.
              • Exhibit 76: CHANEL Ltd. - Overview
              • Exhibit 77: CHANEL Ltd. - Business segments
              • Exhibit 78: CHANEL Ltd. - Key offerings
              • Exhibit 79: CHANEL Ltd. - Segment focus
            • 10.6 Hermes International SA
              • Exhibit 80: Hermes International SA - Overview
              • Exhibit 81: Hermes International SA - Business segments
              • Exhibit 82: Hermes International SA - Key offerings
              • Exhibit 83: Hermes International SA - Segment focus
            • 10.7 Kering SA
              • Exhibit 84: Kering SA - Overview
              • Exhibit 85: Kering SA - Business segments
              • Exhibit 86: Kering SA - Key offerings
              • Exhibit 87: Kering SA - Segment focus
            • 10.8 LVMH Moet Hennessy Louis Vuitton SE
              • Exhibit 88: LVMH Moet Hennessy Louis Vuitton SE - Overview
              • Exhibit 89: LVMH Moet Hennessy Louis Vuitton SE - Business segments
              • Exhibit 90: LVMH Moet Hennessy Louis Vuitton SE - Key news
              • Exhibit 91: LVMH Moet Hennessy Louis Vuitton SE - Key offerings
              • Exhibit 92: LVMH Moet Hennessy Louis Vuitton SE - Segment focus
            • 10.9 Mulberry Group Plc
              • Exhibit 93: Mulberry Group Plc - Overview
              • Exhibit 94: Mulberry Group Plc - Business segments
              • Exhibit 95: Mulberry Group Plc - Key offerings
              • Exhibit 96: Mulberry Group Plc - Segment focus
            • 10.10 Prada Spa
              • Exhibit 97: Prada Spa - Overview
              • Exhibit 98: Prada Spa - Product / Service
              • Exhibit 99: Prada Spa - Key offerings
            • 10.11 Radley and Co Ltd.
              • Exhibit 100: Radley and Co Ltd. - Overview
              • Exhibit 101: Radley and Co Ltd. - Product / Service
              • Exhibit 102: Radley and Co Ltd. - Key offerings
            • 10.12 Tapestry Inc.
              • Exhibit 103: Tapestry Inc. - Overview
              • Exhibit 104: Tapestry Inc. - Business segments
              • Exhibit 105: Tapestry Inc. - Key offerings
              • Exhibit 106: Tapestry Inc. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 107: Inclusions checklist
                • Exhibit 108: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 109: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 110: Research methodology
                • Exhibit 111: Validation techniques employed for market sizing
                • Exhibit 112: Information sources
              • 11.5 List of abbreviations
                • Exhibit 113: List of abbreviations
              • raw material prices: In recent times, key manufacturers have been experiencing fluctuations in their profit margins due to the fluctuating prices of raw materials. For instance, the prices of synthetic fibers, such as Spandex (also known as Lycra or elastane in different regions), keep fluctuating. Besides, the unavailability of high-quality polyester fibers is increasing their prices. Subsequently, such volatility results in the high prices of apparel made using these raw materials. The continuous change in the profit margins of market competitors due to the volatility of raw material prices acts as a major challenge for the growth of the global apparel, accessories, and luxury goods market. The lag between cost fluctuations and the ability of market competitors to increase product prices can negatively impact the profit margins of vendors. The fluctuations in the prices of raw materials make manufacturers unable to anticipate their investments or control costs. Moreover, cost-driven end-users prefer reasonably priced apparel rather than investing heavily in global brands, which reduces the sales potential and revenue of competitors.

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                TechnavioINFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases
                Technavio

                TechnavioDATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts
                Technavio

                TechnavioREPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape
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                Handbags market growth will increase by $654.28 million during 2022-2026.
                The handbags market is expected to grow at a CAGR of 4.48% during 2022-2026.
                Technavio has segmented the handbags market by distribution channel (Offline and Online) and geographic (UK).
                ALDO Group, Aspinal of London Ltd., Bottega Veneta SRL, Bugatti GmbH, Burberry Group Plc, Capri Holdings Ltd, CHANEL Ltd., Crew Clothing Co. Ltd., Dolce and Gabbana Srl, Fossil Group Inc., GOYARD SINGAPORE PTE. LTD., Guess Inc, Hermes International SA, Kering SA, LVMH Moet Hennessy Louis Vuitton SE, Prada Spa, Radley and Co Ltd., Tapestry Inc., The Cambridge Satchel Co. Ltd., Mulberry Group Plc are a few of the key vendors in the handbags market.
                Europe will register the highest growth rate of 100% among the other regions. Therefore, the handbags market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
                The key factors driving the handbags market growth are:
                • Expansion of retail and online distribution landscape
                • Personalization, customization, and innovation of handbags
                The handbags market vendors should focus on grabbing business opportunities from the segment as it accounted for the largest market share in the base year.
                • What are the key global market and the regional market share?
                • What are the revenue-generating key market segments?
                • What are the key factors driving and challenging this market’s growth?
                • Who are the key market vendors and their growth strategies?
                • What are the latest trends influencing the growth of this market?
                • What are the variables influencing the market growth in the primary regions?
                • What are the factors influencing the growth of the parent market?
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